Ceres Power (LON:CWR) Shares Down 39% - Time to Sell?

Ceres Power Holdings plc (LON:CWR - Get Free Report) shares dropped 39% during mid-day trading on Thursday . The stock traded as low as GBX 68.05 ($0.86) and last traded at GBX 79.96 ($1.01). Approximately 34,326,074 shares traded hands during trading, an increase of 1,591% from the average daily volume of 2,029,399 shares. The stock had previously closed at GBX 131 ($1.66).

Analyst Ratings Changes

Separately, Berenberg Bank reaffirmed a "buy" rating and issued a GBX 650 ($8.21) price objective on shares of Ceres Power in a report on Wednesday, January 29th.

Ceres Power Stock Performance

The company has a debt-to-equity ratio of 1.54, a current ratio of 6.48 and a quick ratio of 12.18. The stock has a fifty day moving average price of GBX 156.02 and a two-hundred day moving average price of GBX 184.78. The company has a market cap of £152.44 million, a P/E ratio of -3.78 and a beta of 1.60.

Insider Transactions at Ceres Power

In other Ceres Power news, insider Stuart Paynter acquired 7,151 shares of Ceres Power stock in a transaction dated Wednesday, January 29th. The stock was acquired at an average cost of GBX 139 ($1.76) per share, for a total transaction of £9,939.89 ($12,558.29). Also, insider Dame Julia King acquired 30,200 shares of Ceres Power stock in a transaction dated Thursday, November 28th. The shares were acquired at an average price of GBX 165 ($2.08) per share, with a total value of £49,830 ($62,956.41). Insiders own 40.29% of the company's stock.

About Ceres Power

Ceres is a leading developer of clean energy technology: electrolysis for the creation of green hydrogen and fuel cells for power generation. Its asset-light, licensing model has seen it establish partnerships with some of the world's largest companies, such as Bosch, Doosan, Delta and Weichai. Ceres' solid oxide technology supports greater electrification of our energy systems and produces green hydrogen at high-efficiencies as a route to decarbonise emissions-intensive industries such as steelmaking, ammonia and future fuels.